Central Banks Step Up Buying Of Dim Sum Bonds, Yuan Assets

China Development Bank Corp.’s latest dim sum bond offer in Hong Kong yielded the strongest interest yet from the world’s central banks, highlighting the growing trend in which foreign countries are diversifying their foreign exchange reserves into the Chinese currency.

Rising order books for offshore yuan bonds among central banks also underscore a need to seek alternative assets amid concerns over the long-term prospects of the greenback, which has remained weak for several years.

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